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Tech Giants Forecast Bright Q3 Amid AI Surge, Strategic Moves Unveiled

AInvestMonday, Oct 21, 2024 6:00 pm ET
1min read
1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Wedbush predicts a strong Q3 for tech giants fueled by AI and digital ads resurgence. Mizuho maintains an "Underperform" rating on Palantir with a $30 target. Palantir disclosed insider transactions, including sales by Lauren Friedman and purchases by Taylor Ryan D. Ark Invest highlights Palantir's disruptive potential.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block's performance was reaffirmed as outperform by RBC Capital with a target price of $88. Citi included Block on a 30-day negative catalyst watch but maintained a buy rating with a $90 target. Block collaborates with Lyft for Cash App Pay integration in ride payments.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings will report its third-quarter financial results on 2024-10-23. Mizuho, B of A Securities, Oppenheimer, and Evercore ISI Group have maintained positive ratings on Vertiv Holdings with target prices of $110, $130, $115, and $125, respectively.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike extends its partnership with NBA, WNBA, and NBA G League until 2037. Amid its focus on outdoor investments, particularly All Conditions Gear, Nike also announced leadership changes in China, revealing plans to bolster its performance post-challenging year.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony Group and Honda will introduce AI autonomous driving features in their co-developed premium electric vehicle "Afeela," set to launch in Japan and the US in 2026. This marks the first public introduction of such capabilities in a Japanese car.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.